Employee Benefit Plan (EBP) audits require the consideration and documentation of internal controls. Given the unique nature of an employee benefit plan, properly assessing the internal control structure and determining key controls can present a challenge. This course will give you an introduction to the types of internal controls typically seen, best practices for utilizing SOC 1 reports, and guidance for properly documenting your audit files.
Publication Date: July 2023
Designed For
Those looking to deepen their understanding the internal control environment of EBP’s and to improve their overall audit documentation.
Topics Covered
- New audit standards
- SAS 136 refresher
- The audit approach
- The control environment
- Examples of controls
- Utilizing a service organization report (SOC 1)
Learning Objectives
- Identify EBP specific key controls and document auditor understanding
- Recognize and explain the control environment for entity and functional levels of the EBP
- Recognize how to document auditor consideration of the SOC 1 report
- Identify examples of control objective for enrollments
- Recognize how to differentiate AU-C sections and how they apply
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Auditing (2 hours)
Program Prerequisites
None
Advance Preparation
None
Instructor
Lewis R. Fisher
Lewis R. Fisher is a partner with Moss Adams, LLP in the Automotive & Dealer Services Group, with over 20 years of experience of private and public accounting experience. He began his career working in retail finance at a domestic dealership, and then moved to the corporate office for the largest privately held automotive group in the United States. Lewis' focus is providing assurance and consulting services to automotive dealership clients, as well as other heavy truck and equipment dealers, including those with significant rental operations. He has experience directing all phases of assurance engagements, working with a mix of SEC clients and large privately held clients. He is a member of the American Institute of Certified Public Accountants and the Texas Society of Certified Public Accountants.